Bakkt builds a digital-assets wallet and marketplace that lets consumers aggregate cryptocurrencies, loyalty and rewards points, in‑game assets, and merchant stored value into a single app. The company says these digital assets together represent more than $1.2 trillion in value and that consumers find them difficult to access, track, and use. Bakkt's app enables users to shop with those assets, send them to others, or convert them to cash in a few taps. CEO Mike Blandina said Bakkt gives users control over their digital assets and helps them track, spend, and send value however they want. Bakkt has pursued merchant integrations — notably a direct integration with the Starbucks mobile app that will let select users pay with "Bakkt Cash" and join an early access program. Financially, Bakkt completed a $300 million Series B and has raised $482.5 million in total to date. Bakkt was created by Intercontinental Exchange (ICE) to build a trading platform that enables consumers and institutions to buy, sell, store and spend digital assets. The service has partnered with Microsoft for cloud infrastructure and with Starbucks to enable converting digital assets into U.S. dollars for use at Starbucks. Bakkt is pursuing regulatory approval from the Commodity Futures Trading Commission to launch a one-day, physically delivered Bitcoin futures contract alongside physical warehousing. The company initially targeted a November 2018 launch but delayed to early 2019 while awaiting CFTC permission. Alongside its regulatory push, Bakkt hired Balaji Devarasetty as head of technology. Financially, Bakkt completed its first institutional equity financing, raising $182.5 million.

Total raised

$483M

Funding rounds

2

Latest round

Series B

Latest activity

Mar 2020